Latest News
ZK International Enters iGaming With Series A Investment Up To $50 Million In Carousel Group To Launch MaximBet
ZK International Group Co., Ltd. is pleased to announce that it has led a $50M Series A funding round in CG Malta Holding Limited (“CGM”), a rapidly-growing, privately-held multi-state and globally licensed sports betting and casino operator, to launch MaximBet.com. MaximBet is a strategic partnership with Maxim, the renowned media brand and CGM.
The Company’s investment in CGM will total $50 Million through two closings. The first closing occurred today in which the Company has acquired a 12% interest for the purchase price of $15,000,000. The second closing anticipated to occur within the second quarter, will result in the Company acquiring an additional 13% for the purchase price of $35,000,000. Upon completion of the two closings, the Company will own a total interest of 25% in MaximBet.
MaximBet will be made up of a market-leading sports betting and casino website at MaximBet.com, and tailor-made native iOS and Android apps that will allow users to bet on sports and casino in the United States and around the world. The new venture will leverage Maxim’s integrated network of print, digital, social and experiential platforms to engage the loyal Maxim community and sports bettors alike.
“Maxim has successfully established itself as a preeminent lifestyle brand over the last 25 years,” said Daniel Graetzer, CEO of CGM. The CEO of CGM continues, “our mutual objective is to provide sophisticated entertainment and VIP experiences to the same customer demographic which makes Maxim the perfect partner for CGM.”
Aside from its currently live operation in Colorado, Carousel Group has also entered into a multi-state, 10 year partnership with Caesars Entertainment, Inc., (NASDAQ:CZR) that will see its online sportsbook made available to customers in New Jersey, Indiana and Iowa, as well as its online casino in New Jersey, pending obtaining necessary gaming licenses. MaximBet intends to capture a significant share of the U.S. online gambling market, which is projected to be an annual $10 billion industry by 2025.
Last month, ZKIN announced the formation of its new wholly-owned subsidiary, xSigma Entertainment Limited, with the intent of acquiring online gaming assets to increase shareholder value by targeting businesses in the growing online casino industry. The Company is thrilled to share that its first strategic investment in the US online gambling industry is with an internationally-recognized brand and a premier operator that boasts a team with decades of experience.
Today’s closing of $15 million in Series A funding marks the beginning of the Company’s innovative approach to add value to its shareholders. Jiancong Huang, Chairman of the Company, states, “We are pleased to act as a capital partner to such an amazing brand and experienced management team. Our Company and shareholders are excited about the future and we are looking forward to adding shareholder value to CGM as MaximBet readies to rapidly scale its operations in 2021.”
Latest News
Movers and Shakers: How awager plans to redefine online casino gaming in the European market
“Movers and Shakers” is a dynamic monthly column dedicated to exploring the latest trends, developments, and influential voices in the iGaming industry. Powered by GameOn and supported by HIPTHER, this op-ed series delves into the key players, emerging technologies, and regulatory changes shaping the future of online gaming. Each month, industry experts offer their insights and perspectives, providing readers with in-depth analysis and thought-provoking commentary on what’s driving the iGaming world forward. Whether you’re a seasoned professional or new to the scene, “Movers and Shakers” is your go-to source for staying ahead in the rapidly evolving iGaming landscape.
Can you introduce the awager product and tell us about your company’s aims in the European market?
With awager’s unique products, we aim to usher in a new era of casino gaming in Europe. Our products bridge the gap between traditional land-based casinos and online gaming by allowing players to access land-based slot games remotely. We use modular design, the latest in streaming and audio technology, and a cutting-edge, user-friendly interface to allow players to experience the sights and sounds of a real casino wherever they decide to play.
This product is a unique proposition in the iGaming industry. We have already established ourselves as a presence in North America, including launching the third iteration of our product with Loto Quebec.
Our aim is to provide players with a more authentic and immersive online gaming experience and after finding success in North America, we are now excited to introduce our product to European audiences.
Which markets will be a priority for awager as you expand into Europe, and why?
We have laid out a detailed roadmap for our European expansion. At the forefront of our strategy is a commitment to focusing exclusively on regulated markets, ensuring compliance and sustainability in our operations.
The United Kingdom is going to be a key target. It is undoubtedly the busiest and most dynamic market on the continent, and it offers a huge player base hungry for something fresh and exciting. This will help give us a strong foothold in the region and present plenty of growth opportunities for us as a company.
Sweden will also be a priority during our first wave. Swedish players have a strong affinity with land-based casinos, and as they begin to close down, we find ourselves uniquely positioned to step in and quench that thirst for a physical gaming experience. The Netherlands will also be an important market.
Once we have established a presence in these key markets, we will turn our attention to other regulated markets like Spain, Switzerland, Romania, and Greece. There is plenty of appetite in these countries for something different, and that is exactly what awager can bring to the table.
Are customer tastes significantly different in Europe compared to North America, and if so, how does awager intend to navigate this?
I don’t think there are too many major differences. America has a much stronger land-based culture than Europe, but European players are much more accustomed to online play, which is where our action takes place.
We anticipate some differences in spending habits. Generally speaking, American players tend to gravitate toward higher stakes games compared to their European counterparts, largely due to regulation and cultural differences.
However, all indications point towards European players strongly embracing our products with the same enthusiasm that has characterised our success in the American market. Given that Europe represents a much larger potential market, we have extremely high ambitions over the next years.
What are some of the biggest trends impacting the European market right now? And how is awager positioned to capitalise on them?
Innovation has been the industry’s buzzword for the last few years. Operators are relentlessly seeking to introduce fresh and exciting offerings that will captivate their players, and we are uniquely positioned to meet this demand.
Players are looking for more from their online casino experience, and operators are looking for innovative ways to attract more players. Our product is the ideal link between these two needs, enabling operators to draw in high-stakes players from traditional land-based casinos while appealing to players who crave a more authentic and fresh casino experience.
There is also a real movement towards creating a more authentic gaming experience. Our products cater to that need by using the latest streaming and sound technology to immerse players in the experience. One of the most consistent pieces of feedback we receive from both players and operators is that they can not quite grasp how real the whole experience is.
What are some of the biggest barriers to entry in the European market?
The biggest challenge for most companies looking to break into the European market is navigating regulations. We want to be in as many markets as possible, but we will strictly only work in regulated markets, which does rule out some countries.
Of course, there are also some regulatory hoops we need to jump through in each market, but our product is well-set to do that.
The post Movers and Shakers: How awager plans to redefine online casino gaming in the European market appeared first on European Gaming Industry News.
Latest News
SYNOT Games partners with Platin Casino for a broader Spanish audience reach
SYNOT Games, a leading provider in the iGaming industry, is excited to announce its latest partnership with Platin Casino in Spain. The collaboration introduces over 30 of SYNOT Games‘ most popular and engaging slots.
By joining forces, SYNOT Games and Platin Casino aim to solidify their positions in the Spanish market, offering exceptional value and entertainment to players while adhering to the highest demand.
Among the standout titles now available at Platin Casino are fan favorites such as Fruiti, Joker 5, Realm of Lions, and the highly anticipated seasonal release, Respin Joker 81 Xmass. These games highlight SYNOT Games‘ dedication to delivering visually captivating, high-quality, and diverse gaming experiences tailored to various player preferences.
The collaboration emphasizes the vital role of partnerships in the ever-evolving iGaming sector, showcasing how mutual efforts can lead to expanded market presence and enhanced customer satisfaction.
Leticia Millán, Product Manager at Platin Casino, emphasized the significance of the partnership: We are thrilled to partner with SYNOT Games and bring their engaging slots to our platform. Their innovative approach to game design and ability to deliver player-favorite titles perfectly complement our mission to provide top-tier entertainment.”
Martina Krajčí, Chief Commercial Officer at SYNOT Games, added: „Collaborating with Platin Casino represents an exciting step for SYNOT Games as we expand our reach in Spain. Together, we bring an outstanding portfolio of games to a broader audience, ensuring players enjoy the premium gaming experience they deserve.“
The post SYNOT Games partners with Platin Casino for a broader Spanish audience reach appeared first on European Gaming Industry News.
Latest News
Playson goes live with St8 partnership to further expand European audience reach
Playson, the fast-growing digital entertainment supplier, has moved to strengthen its distribution reach across the European market following a partnership with B2B aggregation platform provider St8.
The tie-up sees a broad collection of Playson’s top-performing games made available to St8’s partnered operators via a seamless API, enhancing the quality of their portfolios significantly. This includes the integration of popular titles such as Coin Strike: Hold and Win and Energy Coins: Hold and Win, as well as latest offerings Pink Joker: Hold and Win and Lightning Clovers: Hit the Bonus.
St8 boasts decades of experience in B2B iGaming operations, delivering fast and scalable solutions and will launch Playson’s industry-renowned portfolio initially in Estonia and Finland, with further European regions to be announced.
The partnership underlines Playson’s ever-expanding global footprint and its ability to cater for large operator networks. By delivering engaging titles with sort-after mechanics, Playson continues to strengthen its reputation as a leading force in the iGaming European landscape.
Cristhian Andre Zito Sudoarg, Sales Manager at Playson, said: “We’re very pleased to partner with St8 and add our portfolio of captivating content to its ever-growing aggregation offering.
“As we continue to navigate a period of strong commercial growth across Europe, collaborations with providers such as St8 allow us to continue expanding our distribution to new markets and players.”
Alex Zvezdochkin, COO at St8, said: “We are thrilled to announce the integration of Playson as our latest games supplier, which marks an important milestone for us.
“We’re always looking to bring the very best games studios to St8, and Playson absolutely fits into that category. The titles are now available to St8 operator partners alongside all the usual features and functionality, including our bespoke selection of thumbnails.”
The post Playson goes live with St8 partnership to further expand European audience reach appeared first on European Gaming Industry News.
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